Cake DeFi wants to strengthen its position in the DeFi and Web3 world. The team will invest up to $100 million in startups and promising projects through its new corporate venture arm. It is a substantial step from the regulated global fintech platform, confirming the need for better industrial infrastructure.
Cake DeFi goes one step further
Getting more people into the cryptocurrency fold remains one of the biggest industry channels. But despite growing mainstream and institutional interest, decentralized finance and Web3 remain in the early stages of development. The Cake DeFi team makes both industries more accessible by focusing on a streamlined user experience without unnecessary bells and whistles.
The Cake DeFi platform makes decentralized financial products and services easy to use. In addition, users can achieve high returns regardless of their expertise or technical knowledge. Users can start their crypto journey as a novice or build a strong portfolio as an existing crypto enthusiast. In addition, there are options to earn free crypto by going through educational content and short quizzes.
As for the numbers, Cake DeFi distributed $230 million in rewards to its users in 2021. In addition, the customer base grew 6x on average, giving users a healthy return on their pledged money. The team plans to pay out $400 million in customer rewards by the end of 2022, although that number could rise to $1 billion.
Cake DeFi’s approach has resulted in the project having more than $1 billion in assets under management. The platform has over half a million registered users and is growing month by month. The recently launched Cake DeFi Ventures marks a critical milestone for the project. The $100 million venture arm aims to drive the growth of technology companies focused on Web3, gaming and fintech.
The Cake DeFi Ventures Approach
Global interest in Web3 and Metaverse technology continues to grow. By blurring the line between the real and virtual worlds, many new opportunities arise. Users may feel empowered, while advertising efforts will differ from how they are perceived today. However, this is only possible if the necessary infrastructure is in place. In addition, there must be enough payment providers that are exploring the possibilities in these industries.
Cake DeFi Ventures will invest in companies building for Web3, the metaverse, NFTs, gaming, eSports and fintech. Cake DeFi Ventures is headquartered in Singapore, but the team plans to explore global investment opportunities for startups. All portfolio companies under the CDV banner will receive support from Cake DeFi and will have access to the suite of products, connections, users, resources and expertise.
Cake DeFi Co-Founder and CEO Julian Hosp adds:
“By launching Cake DeFi Ventures, we strive to bring cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore and South East Asia’s fastest growing platform, projects we invest in can expect strong support for global scaling.”
Any project or team can contact the CDV team to request funding. The team will carefully review each project before determining if it will be shortlisted. Cake DeFi Ventures is also open to partnering with VC firms or investment funds to explore co-investment opportunities. Initiatives like this give a good idea of the Web3 industry and the different industries that exist under this label.